Honeycomb Insurance was founded in 2019 by Itai Ben-Zaken (a Wharton MBA and Israeli military intelligence veteran), CTO Nimrod Sadot, and colleagues, to modernize the multi-family and commercial property insurance market. Property insurance for apartment buildings and condo associations had long relied on slow, manual underwriting and costly physical inspections, leaving a large and underserved market poorly priced. Honeycomb set out to build an AI-native insurer that could underwrite each property individually using data rather than blanket assumptions.
The platform ingests hundreds of data points per property — geospatial datasets, aerial imagery, building history, and more — and runs proprietary AI models to price each risk individually, without requiring a physical inspection. This lets Honeycomb generate competitive, fair quotes quickly while still pricing risk accurately at the property level. By replacing manual inspection-driven underwriting with computer vision and data science, the company can serve segments that incumbents often misprice or avoid, and do so with a faster, more transparent customer experience.
Honeycomb operates as a digital MGA and AI-native insurer focused on multi-family and commercial property. It now operates across more than 20 states, says its admitted and non-admitted products cover more than 65% of the U.S. population, and reports managing over $100 billion in insured assets. Its growth reflects strong demand from property owners and managers for faster quoting and pricing that reflects the actual risk of their specific buildings.
In June 2026, Honeycomb raised a $40 million round led by Zeev Ventures, with participation from investors including Ibex Investors, bringing total funding to $95 million. The earlier $36 million Series B (May 2024) was also led by Zeev Ventures. The capital funds geographic expansion, continued investment in its AI underwriting models, and growth across the property insurance market.